FCPO
FCPO 3rd Month Futures (PM) - 24 Sep 2024
Tue, 24-Sep-2024 02:01 pm
by Dealing Team • Apex Futures

FCPO
Pivot
3977
Resistance
3977 / 3997 / 4018 / 4035
Support
3952 / 3935 / 3917 / 3902
Possible Range
3900 to 4000
Strategy
Long positions may be opened above 3975 with targets 3997/4018 at stop-loss at 3955
Short positions may be opened below 3975 with targets at 3952/3935 stop-loss at 3995

FCPO Dec month dropped 20 points or 0.50% to closed lower at 3957 on midday session. Malaysian crude palm oil futures remained largely stable on Tuesday, as gains in crude oil prices and rival Dalian contracts balanced the impact of a stronger ringgit.

Palm prices likely to continue trade lower on technical selling, bigger time frame remain in upward channel. The immediate support and resistance levels are identified at 3952 and 3977, respectively. 

(News Source: Reuters)

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Market Mover
Settlement Rates
Currency Buy Rates (RM) Sell Rates (RM)
USD 3.939538 3.966364
EUR 4.621065 4.624861
CNY 0.577624 0.578108
HKD 0.502626 0.506063
SGD 3.082334 3.103499